Understanding Namad’s management
Namada is managed with a philosophy of flexibility, allowing it to adapt to change and evolve with users. Namada is a protocol that is designed to last for many years and to support future generations of users. Therefore, it is natural that changes to the protocol should be made in collaboration with the participants who make it up.
One of the key features of governance in Namada is the use of an expressive form that gives participants almost complete flexibility in determining what can be changed. This means that Namada governance must be flexible enough to support changes to the protocol without the need for a hardfork, but also have sufficient mechanisms for participants to express approval or disapproval of proposed hardforks.
Ultimately, the social governance of the software that people choose to run is the last and most important level of coordination. This is why Namada supports off-chain voting on signals so that users can publish the history of such decisions on the chain itself.
Governance in Namada consists of two main actors: delegators and delegates. Delegates link their tokens to another address, but delegate their voting rights to delegates. Delegates, in turn, vote on behalf of delegates on governance proposals. The level of participation in governance is determined by the distribution of bound NAM tokens.
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In this way, governance in Namad provides flexibility and involvement for participants, allowing them to actively influence the development of the protocol. With this philosophy of flexibility, Namada can successfully adapt to changing needs and remain relevant over time.
Website:https://namada.net/
Twitter:https://twitter.com/namada
Telegram:https://t.me/namadaprotocol
